Posted on 04/02/2012 6:13:14 PM PDT by MinorityRepublican
How many times have we heard that this was the worst recession since the Great Depression? That may be true—although the double-dip recession of the early 1980s was about comparable. Less publicized is that our current recovery pales in comparison with most other recoveries, including the one following the Great Depression.
The Great Depression started with major economic contractions in 1930, '31, '32 and '33. In the three following years, the economy rebounded strongly with growth rates of 11%, 9% and 13%, respectively.
The current recovery began in the second half of 2009, but economic growth has been weak. Growth in 2010 was 3% and in 2011 it was 1.7%. Who knows what 2012 will bring, but the current growth rate looks to be about 2%, according to the consensus of economists recently polled by Blue Chip Economic Indicators. Sadly, we have never really recovered from the recession. The economy has not even returned to its long-term growth rate and is certainly not making up for lost ground. No doubt, there are favorable economic numbers to be found, but overall we continue to struggle.
During the postwar period up to the current recession (1947-2007), the average annual growth rate for the U.S. was 3.4%. The last three decades have experienced somewhat slower growth than the earlier periods, but even in the period 1977-2007, the average growth rate was 3%. According to the National Bureau of Economic Research, the recovery began in the second half of 2009. Since that time, the economy has grown at 2.4%, below our long-term trend by either measure. At this point, the economy is 12% smaller than it would have been had we stayed on trend growth since 2007.
(Excerpt) Read more at online.wsj.com ...
I keep seeing stories about this, that, or whatever is affecting the recovery.
I always think to myself. “What recovery?”
The list, Ping
Let me know if you would like to be on or off the ping list
With a 39 percent corporate tax rate(not including the Alternative Minimum Tax and other taxes) how can you create jobs?
They count government printed/borrowed money as GDP...
Remove that $1,500,000,000,000 or 10% of GDP they’ve been pumping into the “economy” every YEAR since Obama came to power and see what you really have.
It isn’t pretty...
The 15 Trillion Price Pressure jobless, UnRecovery-Recovery.
Absolutely true, What recovery? The oilfield is good because there is no other place to speak of to invest money. Investment is pouring in but this too will soon pass. Natural gas prices are plummenting and that drilling will soon end. It is not economic at sub $2.00 per thousand cubic feet. Burner tip suppliers are getting rich right now. Money flows from one high to another hole as it is now.
I know people in my home county are hitting it terribly hard. Our renter is moving from 6 miles out of town to town and a much less comfortable house all because of gasoline prices she says. I’ll try to reduce the rent to keep them but it is hitting us all.
WE ARE GOING DOWN AT AN ACCELERATING RATE IF YOU ASK ME.
Musta been readin’ my tagline.
Obama: History’s most feckless messiah.
There is, and has never been any recovery.
We’re sitting on an inflationary time bomb - worldwide!
It’s gonna go off, and soon! ...................... FRegards
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